There was a time when The Maanga used to focus on puking and used to puke very well. Sadly, by mindlessly diversifying its portfolio, it has lost focus.\u00a0 By trying to mix puking with intelligent commentary, it has ended up doing neither.<\/p>\n
A puke is like a surgical strike. To be successful, it has to be well-planned. You have to not only injure the target, but devastate it in the first attempt. Once you are done with it, you should be back in safe, well-defended territory. If you fail at these,\u00a0 your battle is apt to go awry.\u00a0 Your alternatives will be to call in reinforcements to defend a weak position or to stage a difficult retreat.\u00a0 Neither choice is pretty.<\/p>\n
A case in point is Avataram declaring that Ajay Shah is a moron<\/a>\u00a0 and then following it up with a search for reasons to back up his point.<\/p>\n \u00a0First he says that Ajay Shah is a moron because he does not realise that India’s real economy does not respond to monetary policies. This would be a valid point if it were true.\u00a0 But it is half true. It is, in fact, true that we have a communist country\u00a0hidden inside our capitalist one. It is, in fact, true that in this communist country, government actions – price controls, customs duties\u00a0 – have a much larger effect on inflation than the RBI tweaking the exchange rates or interest rates of the capitalist India.\u00a0 But the problem is that Shah explicitly addresses the point in his article.\u00a0 He has a graph that shows that inflation has a correlation with the exchange rate. When the rupee is strong, inflation is down. This is both because imports become cheaper when the rupee is strong and because when the rupee is strong, it means that the RBI has not flooded the market with rupees, and this leads to low inflation.\u00a0 Avataram realises this, so\u00a0he has to find other reasons to justify his conclusion.<\/p>\n